We are in conversation with Hitesh Jirawla, founder of Cubictree which is a litigation management company with a suite of software solutions.

Cubictree is India’s largest litigation data aggregator, with a repository of 250 crore+ litigation records (10 lakh+ added daily). And through the use of structured and analytical inputs, they make it easier for legal and business professionals to make high-quality decisions.


Episode highlights

Cubictree at its core

  • Cubictree is a platform that provides technology solutions for the legal industry.

  • The initiative for starting Cubictree was, seeing that there was no other platform in the market that offered this kind of information management solution to law firms.

  • What’s included in the platform side of Cubictree are the legal and recovery management platform, litigation management solution, and contract management platform. Despite these, Cubictree also offers data-based platforms.

  • See 1:37

Products

  • CLM product – a contract management platform that allows their users to work on their contracts by editing them, drafting, approving, what kind of terms the contract has to have, collaborative editing as well as digital signatures.

  • See 9:30

Product diversification journey

  • Cubictree started off with a litigation management platform. The idea was to help the law firms have power over their data first by managing the information they have.

  • To offer good performance for their products, Cubictree’s team had to work on understanding what the legal team does and then applying that information on their platform to help their customers.

  • The first problem companies were facing was data organization and management, and the second one is data interpretation.

  • See 11:05

Is there a consulting side to the business?

  • Considering that Cubictree has access to all these data for all these companies, knowing all the information about how that company operates and what they have been going through business-wise, consulting is on Cubictree’s radar.

  • Cubictree aims to offer consulting services to their customers on how they should read and apply the insights they are getting.

  • See 17:42

Does Cubictree offer insights and interpretations?

  • That’s an interesting area to consider for Cubictree and they are headed in that direction, but not all companies are at the same stage technology-wise. Some are still in the process of shifting from Excel to Cubictree’s system, some from system to basic analytics, some from analysis to insights.

  • Another drawback of this is that since Cubictree is the one who has developed the technology, the consulting will come with a bias towards the product.

  • Offering consultancy as an added tool would be beneficial and it is already in Cubictree’s radars since they do have access to all the data and insights of their customers’ company.

  • See 18:46

Challenges facing legal technology companies in India

  • What are some existential threats and barriers to growth for legal tech companies operating in India? The survival rate of legal tech startups is not highly promising.

  • See: 24:30

The issues with the buyer market in the legal technology space

  • Companies need to understand and be aware of their process and at least have an understanding of what kind of software will meet their needs best. Only then, they can migrate from one process change management to another system.

  • Budget is a very important aspect while switching from one system to another. Clients (companies) should be aware of their budget limit when it comes to new implements in their companies based on their requirements.

  • See: 27:41

What are some KPIs of using Cubictree?

  • First, better time management. Using a platform that organizes all the information and generates automatic reports has saved companies a lot of time.

  • Second, they have noticed an increment in their ROI since all their reporting, updates, and MISs are done. They have been able to manage 3x the work with the same team size.

  • Third, attracting new investors.

  • See: 30:40

New products in the future from Cubictree

  • Cubictree is continuously adding more productivity layers to their actual products.

  • In terms of CLMs, they are looking to create more workflows, language models, and smart contracts.

  • See: 36:26

Would it be a good idea to have a sector analysis with all the data gathered?

  • Another area where Cubictree can expand its influence is sector analysis. Based on the data that they have from over a decade on different companies from different segments, it would be an innovative opportunity to do a macro analysis and give predictions to that sort of segment.

  • See: 38:04

View on competition in this sector

  • There’s none in the market that is doing the exact same thing as Cubictree but the competition is on specific sectors like CLMs, legal tech companies etc.

  • See: 43:28

If Cubictree would start today, what would change in its market strategy?

  • Awareness. Back when Cubictree started, legal tech wasn’t a topic people would know much about. With today’s knowledge and confidence, Hitesh says that if he was to start Cubictree today, he would talk more about this domain and spread awareness of what that is.

  • See: 50:18

Goals and vision in the coming years

  • Cubictree’s number one goal for the next 5 years is to be a leader in the legal technology solutions in India.

  • Another goal, is to have Cubictree’s solutions implemented in 2-3 other countries.

  • See: 54:28


Transcript


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